United Community Banks (NASDAQ:UCBI) had its price objective lifted by SunTrust Banks from $32.00 to $35.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. They currently have a hold rating on the financial services provider’s stock. SunTrust Banks also issued estimates for United Community Banks’ Q1 2020 earnings at $0.54 EPS, Q4 2020 earnings at $0.57 EPS and FY2021 earnings at $2.41 EPS.
UCBI has been the topic of several other reports. ValuEngine downgraded shares of United Community Banks from a hold rating to a sell rating in a research note on Tuesday, October 15th. Stephens reissued a hold rating and set a $29.00 price target on shares of United Community Banks in a research note on Tuesday, October 22nd. BidaskClub raised shares of United Community Banks from a hold rating to a buy rating in a research note on Saturday, December 7th. Zacks Investment Research raised shares of United Community Banks from a hold rating to a buy rating and set a $34.00 price target on the stock in a research note on Friday, December 6th. Finally, Hovde Group downgraded shares of United Community Banks from an outperform rating to a market perform rating and set a $33.00 price target on the stock. in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $32.60.
Shares of United Community Banks stock opened at $30.83 on Thursday. United Community Banks has a 1 year low of $22.08 and a 1 year high of $31.66. The firm has a market cap of $2.45 billion, a PE ratio of 14.41 and a beta of 1.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50 day simple moving average of $30.96 and a two-hundred day simple moving average of $28.79.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from United Community Banks’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 2.34%. United Community Banks’s dividend payout ratio (DPR) is 33.64%.
In other United Community Banks news, CAO Alan H. Kumler sold 2,924 shares of United Community Banks stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $31.00, for a total transaction of $90,644.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.18% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. increased its stake in shares of United Community Banks by 5.1% in the second quarter. UBS Asset Management Americas Inc. now owns 72,467 shares of the financial services provider’s stock worth $2,070,000 after buying an additional 3,502 shares during the period. California Public Employees Retirement System increased its stake in shares of United Community Banks by 31.8% in the third quarter. California Public Employees Retirement System now owns 217,995 shares of the financial services provider’s stock worth $6,180,000 after buying an additional 52,655 shares during the period. Russell Investments Group Ltd. increased its stake in shares of United Community Banks by 6.7% in the third quarter. Russell Investments Group Ltd. now owns 458,261 shares of the financial services provider’s stock worth $12,992,000 after buying an additional 28,736 shares during the period. Boston Advisors LLC increased its stake in shares of United Community Banks by 67.9% in the third quarter. Boston Advisors LLC now owns 77,192 shares of the financial services provider’s stock worth $2,188,000 after buying an additional 31,223 shares during the period. Finally, BB&T Securities LLC increased its stake in shares of United Community Banks by 28.5% in the third quarter. BB&T Securities LLC now owns 10,965 shares of the financial services provider’s stock worth $310,000 after buying an additional 2,432 shares during the period. 90.86% of the stock is currently owned by institutional investors.
About United Community Banks
United Community Banks, Inc operates as the bank holding company for United Community Bank that provides retail and corporate banking services to individuals and businesses. It offers various deposit accounts, such as checking accounts, savings and time deposits accounts, NOW accounts, money market deposits, and certificates of deposit.
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